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August Nevada sportsbook handle remains behind NJ


Nevada’s sportsbook handle for the month of August remained behind New Jersey for August, despite a 22.1% increase to $287.8m, while overall casino revenue slipped back below $1bn at $952.4m.

The state’s $952.4m worth of revenue was the lowest figure since April but up 4.3% year-on-year, as a total of $11.78bn was wagered in the state.

The sports betting handle for the month was behind New Jersey’s $293.6m, after falling back behind the Garden State for July. Sports betting revenue totaled $18.7m, less than New Jersey’s $25.2m, but up 62.4% year-on-year and 20.9% month-on-month.

The return of college football and the approach of the NFL led to a 30-fold month-on-month increase in football bets in the state, and a 110% year-on-year increase with $72.3m wagered. While the handle lagged far behind baseball’s $178.9m, the state made substantially more revenue on football at $12.7m compared to baseball’s $6.7m, boosted by the fact that many football bets made in August were yet to pay out, allowing for a 17.5% win percentage.

Overall casino revenue declined from July to August in Nevada as both penny slots and combined slot revenue brought in their lowest revenue since February, at $273.8m and $615.5m respectively. However, year-on-year penny slot revenue rose 31.5% while overall slot revenue rose 26.3%.

As usual, penny slots were the largest source of slots revenue, with multi-denomination slots bringing in the second-most revenue and seeing the largest amount of money spent, at $246.4m and $5.08bn respectively.

In total, $9.56bn were wagered on slot machines, up 34% year-on-year.

Table games, including sports betting, saw brought in $336.9m on $2.22bn worth of wagers, a 13.6% year-on-year increase in revenue and a 2.8% increase in money wagered. Baccarat again became the largest source of revenue among table games and the game with the most money handled, edging out twenty-one by bringing in $98.6m on a $656.7m handle, while twenty-one brought in $97.1m on $625.4m.

Clark County, where Las Vegas is located, again took in the vast majority of the state’s income at $791.6m, up 4.7% year-on-year. The Las Vegas strip alone brought in $520.7m on $5.02bn worth of wagers, up 9% and 5% respectively.